3 [12 marks] (a) Company A is a manufacturer of refrigerators. Its annual cost data is as given in Table Q3. If the company sold 720 units of refrigerators in a year, in order to obtain 24% profit margin, what should be the selling price for a refrigerator? Costs RM875,300 RM125,000 RM15,000 RM150,000 RM25,000 RM18,000 Table Q3 Item Raw material and components Direct labour Direct expenses Plant manager and staff Utilities for plant Taxes and insurance Plant and equipment depreciation Warehouse expenses Engineering salaries and expenses Administrative staff salaries Sales staff, salaries and commissions Total annual sales Profit margin RM63,000 RM28,000 RM76,000 RM82,000 RM71,000 720 units 24%